"It's been super cheap" for energy companies to obtain financing over the past five years, said Brian Gibbons, a senior analyst for oil and gas at CreditSights in New York. Now, companies with ratings of B or below are "virtually shut out of the market" and will have to "rely on a combination of asset sales" and their credit lines, he said.
What does this say to you?
To me it says that the oil boom is owed to the FED in this country, and now they are bitching.
As I said, previously, with the price of oil this low, I expect Texas to become a ....Mississippi.
All those ...jobs ......poof, they are gone just like any boom or boomtown before them. that's reality. It's a lesson for wingers who thought those kinds of jobs are real jobs. They are as real as the next drop in price.
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